Zuckerberg appearance helps propel stock above $20 for first time in 4 weeks

Facebook shares closed at $20.93 today, up more than 7.7 percent since Tuesday when CEO Mark Zuckerberg appeared for an interview at TechCrunch Disrupt SF.

Zuckerberg took the stage after market hours ended Tuesday, but shares were up 3 percent in after-hours trading. Today the stock gained $1.50, bringing it above $20 for the first time in four weeks. Investors seemed to gain some confidence in Facebook after Zuckerberg spoke candidly and confidently about the company’s mobile future and eventual foray into search.

Zuckerberg has avoided public appearances and interviews over the past year, and his silence likely contributed to some of the uneasiness investors felt about the company. The stock, which was priced at $38 at the time of Facebook’s initial public offering in May, fell as low as $17.67 last month following the end of the first lock-up period. Even with today’s rise, shares are trading below 40 percent of their offering price. However, Facebook has recently been active in expanding its mobile monetization efforts and testing a new search-based advertising option. Zuckerberg said in his interview Tuesday that the company has many more products and feature to launch later this year.

Also today, Apple executives touted the Facebook integration in the new iPhone 5 and iTunes App Store, which may have also helped buoy the social network’s stock.

Image credit: CNN Money

Tumblr Marketing

Mediabistro Course

Tumblr Marketing

Starting December 1, learn how to market using the most popular visual blog! In this course, you’ll learn how to develop a strategy for your own Tumblr account, get people to read and share your content, and integrate your marketing efforts with other social platforms. Register now!

 

Leave a Reply

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Social Media and Online Assistant

Education Management
Chester, PA

Web Content Creator

John Paul Mitchell Systems
Los Angeles, CA

Social Media Specialist

Penske Media Corp.
Los Angeles, CA

Director of Marketing

Broadway Across America
Baltimore, MD

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us